Mises Wire
Author:
Robert P. Murphy
Online Publish Date:
example is Scott Sumner—the undisputed leader of the market monetarists—who has an economics PhD from the University of Chicago and occupies (as of this writing) the Journal , he recommended that the Bank of Japan increase the rate of monetary growth to stimulate its lackluster economy, and then argued: Initially, higher claim—was the culprit. Once again, the Fed’s “tight money” has caused another economic disaster. Problem No. 3: Market Monetarists Take Their (Simplistic) Model